Urgent Call for Action to Safeguard Caribbean SIDS

Urgent Call for Action to Safeguard Caribbean SIDS

CAF, Commonwealth, and Antigua and Barbuda High Commission Call for Immediate Climate Action

London, United Kingdom, November 13, 2024 As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change.

With the window to take decisive action rapidly shrinking, CAF – Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face. It aimed to build on global discussions on small island states, including the United Nations SIDS4 Conference held in Antigua and Barbuda in May, and the recently concluded Commonwealth Heads of Government Meeting (CHOGM) in Samoa, where critical issues facing SIDS were prioritised. The event served as a prelude to COP29 being held in Baku, Azerbaijan.

With international momentum building around climate resilience, CAF’s Executive President, Mr. Sergio Díaz-Granados, underscored the existential stakes for the Caribbean. “Today, we are at a decisive moment. Our decisions are not merely choices; they are the foundation of our survival,” he asserted. Recalling his childhood in Santa Marta, a town on the Caribbean coast of Colombia and the environmental impacts on the islands of San Andrés and Providencia, he asserted that “environmental vulnerabilities undermine everything we are building as individual countries and as a region. Today, we are at a decisive moment. Our decisions today are not merely choices; they are the foundation of our survival.”  He added, “the impact is not theoretical—it’s existential. And all the data confirms it: our window to act is shrinking.”

Small states contribute the least to global emissions, less than 1%, however, they bear the brunt of climate impacts—rising sea levels, extensive droughts, ferocious wildfires, increasingly frequent and more intense hurricanes and devastating flooding.

The Right Honourable Patricia Scotland, Secretary General of the Commonwealth, stressed the obstacles faced by SIDS. “They are highly vulnerable to the intensification of climate change, which is compounded by limited fiscal space and global financial rules that load the dice against them—all of which compromises their resilience,” she remarked, as she advocated for greater international collaboration and equitable access to resources.

Meanwhile, CAF’s Regional Manager for the Caribbean, Dr. Stacy Richards-Kennedy highlighted the commitment of CAF “to working with our global partners and provide platforms, such as this one, to amplify the voices of Caribbean SIDS, as we continue to build strong coalitions and movements in support of social change and climate justice.”  She emphasised the importance of “understanding the power of disaggregation of data on Caribbean countries and of investing in the production of knowledge products tailored to the Caribbean.” She said this is a critical component for successfully implementing CAF’s work programme across the priority sectors identified by Caribbean countries. 

Her Excellency, Karen Mae-Hill, Antigua and Barbuda’s High Commissioner to the United Kingdom, highlighted the region’s strategic advantages in the blue and green economy. “Unlocking the full potential of the blue and green economy in the Caribbean is not just a soundbite for our nations.  These are areas in which the Caribbean has immense competitive advantage, which now needs to be matched with political will, financing and technical support.” In referring to the Antigua and Barbuda Agenda for SIDS and its priorities for small states, she said, “none of these can be achieved without access to finance, and this access must be both consistent and accelerated.”

As a cooperative bank founded in the Global South, CAF is committed to ensuring that Caribbean countries gain access to flexible, agile development financing options. With USD 25 billion pledged for green operations through 2027, CAF remains focused on scaling up climate financing, supporting resilience-building initiatives, and promoting sustainable and inclusive growth across the Caribbean.

The symposium saw participation from members of the Caribbean Diplomatic Corps, representatives from the UK Foreign, Commonwealth and Development Office (FCDO), and various regional and international dignitaries.

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